https://www.proactiveinvestors.com.au Proactiveinvestors RSS feed en Tue, 16 Oct 2018 14:33:53 +1100 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - Piedmont Lithium updated study forecasts billion dollar lithium operation ]]> https://www.proactiveinvestors.com.au/companies/news/204781/piedmont-lithium-updated-study-forecasts-billion-dollar-lithium-operation-204781.html Piedmont Lithium Ltd (ASX:PLL) has received the updated scoping study for its flagship Piedmont Lithium Project in the US state of North Carolina.

Notably, the updated study has upgraded the after-tax net present value (NPV) for the proposed lithium hydroxide operation by 14% to US$888 million or about A$1.25 billion.

The updated scoping study contemplates a staged development approach to minimise start-up risk and up-front capital requirements.

It also includes a 22,700 tonne per year chemical plant supported by an operation producing 170,000 tonnes per year of 6% lithium oxide spodumene concentrate.

This updated scoping study also incorporates the production of by-product quartz, feldspar and mica, revealed in the recent JORC resource update.

Piedmont’s president and CEO Keith D. Phillips said: “We are very pleased with the results of the updated Scoping Study, which incorporate the substantial economic benefits of recovering and selling the by-products quartz, feldspar and mica that is inherent in our ore body.

"The economic benefit of developing an integrated lithium chemical business in North Carolina, USA is clear, driven by the exceptional infrastructure and human resource advantages of our location, as well as the competitive royalty and tax regime offered in the United States.”

READ: Piedmont Lithium reveals quartz, feldspar and mica resources for lithium project in the US

The two-stage 22,700 tonnes per year lithium hydroxide operation will have an initial 13-year mine life with first stage initial capex of US$109 million.

Stage two capex for the chemical plant is expected to be funded largely by internal cash flow.

First quartile operating costs

A key feature of the project is its competitive cost profile with average life of project cash operating costs of US$3,112 per tonne.

This positions Piedmont as one of the industry’s lowest cost producers.

Moving on to a pre-feasibility study

The successful outcome of the updated scoping study means the company will move forward with a pre-feasibility study (PFS) targeted for completion in 2019.

PFS work programs will include drilling, metallurgical testing, expansion of the land position, permitting and ongoing discussions with potential partners.

Phiilips added: “We will now focus on continued growth in our land position and resource base, advancing toward permit submittals in late-2018, and refining project economics as part of a pre-feasibility study targeted for Q2 2019.”

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Thu, 13 Sep 2018 11:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204781/piedmont-lithium-updated-study-forecasts-billion-dollar-lithium-operation-204781.html
<![CDATA[News - Piedmont Lithium reveals quartz, feldspar and mica resources for lithium project in the US ]]> https://www.proactiveinvestors.com.au/companies/news/204293/piedmont-lithium-reveals-quartz-feldspar-and-mica-resources-for-lithium-project-in-the-us-204293.html Piedmont Lithium Ltd (ASX:PLL) has revealed a resource estimate for by-products (quartz, feldspar and mica) from the spodumene bearing pegmatite at its Piedmont Lithium Project in North Carolina, U.S.

Mineral resource estimate for by-products – Piedmont Lithium Project

The by-product resource estimate is based on the same geologic model that resulted in a maiden lithium resource of 16.2 million tonnes at 1.12% lithium oxide announced on June 14, 2018.

Piedmont president and chief executive officer Keith D. Phillips said: “Having confirmed a flow sheet to recover by-product quartz, feldspar and mica, we have now demonstrated a large-scale resource for each.

“We look forward to releasing an amended scoping study in the next several weeks and expect the update to further highlight the important advantages of our unique location.”

READ: Piedmont Lithium produces quartz, feldspar and mica as by-products from lithium project

Piedmont recently completed a bench-scale metallurgical test work program to produce quartz, feldspar and mica.

Significantly, initial results demonstrate the commercial potential for each by-product, and Piedmont has delivered bench-scale samples of feldspar and mica concentrates to potential offtake partners for further testing.

The company has opened confidential discussions with several parties for offtake of all three by-products.

Quartz

Quartz (also known as silica) is produced commercially from a wide variety of deposits, including pegmatite.

Silica sand and quartz are economical sources of silica (SiO2) used in glass and ceramics manufacture.

Feldspar

Feldspar is produced commercially from rocks of granitic composition such as pegmatite in addition to feldspar quartz sands.

Feldspar may be used as a source of aluminium (Al), sodium (Na), potassium (K) and silicon (Si) in the manufacture of glass and in ceramics.

Mica

Mica occurs as several minerals (e.g. biotite, phlogopite or muscovite).

Muscovite is most commonly sourced from pegmatites and granitic rocks and finds application as an insulator, in fillers, in plastics, paint and drilling mud.

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Thu, 06 Sep 2018 12:50:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204293/piedmont-lithium-reveals-quartz-feldspar-and-mica-resources-for-lithium-project-in-the-us-204293.html
<![CDATA[News - Piedmont Lithium produces quartz, feldspar and mica as by-products from lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/204087/piedmont-lithium-produces-quartz-feldspar-and-mica-as-by-products-from-lithium-project-204087.html Piedmont Lithium Ltd (ASX:PLL) has completed a bench-scale metallurgical test work program to produce quartz, feldspar and mica as by-products of spodumene concentrate from its proposed vertically-integrated Piedmont Lithium Project in North Carolina, US.

Piedmont has partnered with North Carolina State University’s Minerals Research Laboratory (MRL) to complete the bench-scale test work to produce by-products from spodumene flotation tailings.

 

Significantly, initial results demonstrate the commercial potential for each by-product, and Piedmont has delivered bench-scale samples of feldspar and mica concentrates to potential offtake partners for further testing.

The company has opened confidential discussions with several parties for offtake of all three by-products.

Piedmont is currently completing a resource estimate for each by-product based on the geological model used to determine the company’s maiden resource estimate revealed in June 2018.

READ: Piedmont Lithium reveals maiden lithium JORC resource

The by-product resource estimate is expected in the coming days.

Meanwhile, Piedmont is preparing an updated scoping study including by-product concentrates. This update is expected later this month.

READ: Piedmont Lithium’s high-grade results may add to lithium resource at US project

Piedmont president and chief executive officer Keith D. Phillips said: “Historically, a significant portion of the revenue from the local lithium mines was derived from by-product quartz, feldspar and mica.

“The metallurgical results covered in this release demonstrate Piedmont’s ability to recover these minerals through flotation, and we expect later this month to be in a position to quantify the impact of these by-products on the economics of our integrated lithium project.”

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Tue, 04 Sep 2018 12:57:00 +1000 https://www.proactiveinvestors.com.au/companies/news/204087/piedmont-lithium-produces-quartz-feldspar-and-mica-as-by-products-from-lithium-project-204087.html
<![CDATA[News - Piedmont Lithium’s high-grade results may add to lithium resource at US project ]]> https://www.proactiveinvestors.com.au/companies/news/203442/piedmont-lithiums-high-grade-results-may-add-to-lithium-resource-at-us-project-203442.html Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLLL) has received high-grade results from drilling outside the resource area of the Core property, confirming upside potential of its lithium project in North Carolina, USA.

Final results from phase III drilling at Core have returned broad, high-grade intervals of up to 8.2 metres at 1.91% lithium oxide within a single pegmatite.

Piedmont’s president and CEO Keith Phillips said: “These results demonstrate the potential to expand the resource on our Core property, and we are optimistic that the Sunnyside and Central properties hold significant potential as well.

 

“Our scoping study demonstrated the strong economics of a 13-year project based on our current resource.

“We believe future drilling may extend the project life and enhance the project economics as well as the strategic value of this unique American resource.”

READ: Piedmont Lithium’s scoping study delivers compelling economics for integrated lithium project

The drilling campaign of 124 holes for 21,363 metres, consisted of infill drilling along the trends defined by the phase II program and exploratory drilling of targets with little or no prior drilling.

Assays from drilling of seven holes for 911 metres at the Sunnyside property are pending while initial drilling is underway at Central property with two of three holes completed.

Most holes outside resource

The latest results were received after the cut-off date and are not included in the maiden mineral resource estimate of 16.2 million tonnes at 1.12% lithium oxide.

One hole returned 15.8 metres of non-continuous cumulative thickness of mineralisation.

As well as the 8.2-metre intersection, it also included 3.2 metres at 1.25% lithium oxide and 2.8 metres at 1.05%.

Drill hole locations at the Core property.

Another hole returned 21.3 metres of non-continuous cumulative thickness of mineralisation across six dykes, including 6.0 metres at 1.31% and 7.45 metres at 1.04%.

13 metres at 1.06% lithium oxide

There was 18.5 metres of cumulative thickness in a third hole across three pegmatites, including  13.0 metres at 1.06% and 4.4 metres at 1.11%.

The 15 holes reported from the Core property were not used in the maiden mineral resource estimate and the majority occur outside of the resource boundary.

Consistent results

Twelve of the 15 encountered similar results consistent with the prior 109 holes reported for the phase III campaign.

All of the initial drilling at the Sunnyside and Central properties targeted spodumene pegmatite outcrop and sub-crop occurrences.

In addition, magnetometer and soil sampling surveys have been completed on both properties.

Results of both surveys are expected in the coming weeks and will aid in geologic interpretations and drill hole targeting.

READ: Piedmont Lithium strengthens board with appointment of North Carolina local

The company holds a 100% interest in the Piedmont project which is within the world-class Carolina Tin-Spodumene Belt (TSB) and along trend to the Hallman Beam and Kings Mountain mines.

Historically, these mines provided most of the western world’s lithium between the 1950s and the 1990s.

The TSB has been described as one of the largest lithium provinces in the world and is about 25 miles west of Charlotte, North Carolina.

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Thu, 23 Aug 2018 12:51:00 +1000 https://www.proactiveinvestors.com.au/companies/news/203442/piedmont-lithiums-high-grade-results-may-add-to-lithium-resource-at-us-project-203442.html
<![CDATA[Media files - Piedmont Lithium sets sights on building lithium plant in North Carolina ]]> https://www.proactiveinvestors.com.au/companies/stocktube/10139/piedmont-lithium-sets-sights-on-building-lithium-plant-in-north-carolina-10139.html Wed, 15 Aug 2018 11:40:00 +1000 https://www.proactiveinvestors.com.au/companies/stocktube/10139/piedmont-lithium-sets-sights-on-building-lithium-plant-in-north-carolina-10139.html <![CDATA[News - Piedmont Lithium strengthens board with appointment of North Carolina local ]]> https://www.proactiveinvestors.com.au/companies/news/201966/piedmont-lithium-strengthens-board-with-appointment-of-north-carolina-local-201966.html Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLLL) has strengthened its US-based board as it advances its vertically-integrated lithium supply strategy centred on the prolific Carolina Tin-Spodumene Belt in the US state of North Carolina.

The company has appointed Jeff Armstrong to the board of directors as an independent non-executive director with Mark Pearce to step down from his non-executive director position.

READ: Piedmont Lithium’s scoping study delivers compelling economics for integrated lithium project

President and CEO Keith Phillips said: “Jeff is an outstanding addition to our board and will add valuable experience and extend our relationships in North Carolina.

“We are pleased to have another US-based independent director, and I look forward to working closely with him.

“In addition, on behalf of the board, I would like to thank Mark for his substantial contribution in progressing Piedmont into a dual-listed US lithium development company with plans to provide a new US domestic source of lithium to supply the increasing electric vehicle and battery storage markets.”

Active in community

Armstrong lives in Charlotte, North Carolina, where he is active in the community and has extensive relationships with major corporations and entrepreneurs alike.

He serves as CEO and managing partner of North Inlet Advisors, LLC, a firm providing strategic and financial advice to companies on capital formation, mergers, acquisitions, divestitures, restructurings and other corporate transactions.

READ: Piedmont Lithium acquires site for planned US lithium chemical plant

Armstrong was previously a senior leader in what is now Wells Fargo Investment Bank for nearly a decade.

With this company, his leadership roles included the head of corporate finance, mergers and acquisitions, private equity coverage and leveraged capital groups.

He also worked as an investment banker for Citigroup from 1994 to 1999 and for Morgan Stanley from 1987 to 1994.

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Wed, 01 Aug 2018 11:46:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201966/piedmont-lithium-strengthens-board-with-appointment-of-north-carolina-local-201966.html
<![CDATA[News - Piedmont Lithium’s scoping study delivers compelling economics for integrated lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/201095/piedmont-lithiums-scoping-study-delivers-compelling-economics-for-integrated-lithium-project-201095.html Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLLL) has been buoyed by a scoping study which has delivered compelling projected economics for its vertically-integrated Piedmont Lithium Project in the USA.

Positive economics are supported by low initial capital, early spodumene concentrate sales, attractive capital and operating costs, short transportation distances, minimal royalties and low corporate income taxes.

Piedmont, which is in the Carolina Tin-Spodumene Belt in North Carolina, will meet an important strategic need for domestic US lithium production.

The study says it will also confer substantial economic benefits on the local region.

READ: Piedmont Lithium tests produce consistent high-grade concentrate from US lithium project

President and CEO Keith Phillips said, “We are very pleased with the results of the scoping study.

“The economic benefit of developing an integrated lithium chemical business in North Carolina, USA, is now clear.

“This is driven by the exceptional infrastructure and human resource advantages of our location, as well as the competitive royalty and tax regime offered in the United States.”

Shares up 11%

Investors also responded positively with shares up more than 11% intra-day to 19.5 cents.

The scoping study utilises the maiden resource estimate of 16.2 million tonnes grading 1.12% lithium oxide.

It is based on a lithium hydroxide chemical plant with annual capacity of 22,700 tonnes.

This would be supported by an open pit mine and concentrator producing 170,000 tonnes per year of 6% lithium oxide low-iron spodumene concentrate.

The study contemplates a staged development approach to minimise start-up risk and up-front capital requirements.

It states that revenue from open-market spodumene concentrate sales in the project’s initial years will help defray capital requirements for the chemical plant.

The average life of project cash operating cost of about US$3,960 per tonne, positions Piedmont as the industry’s lowest-cost producer.

Low operating costs, low royalties and low corporate tax rates potentially allow Piedmont to achieve after-tax margins approaching US$8,900 per tonne, or around 64%.

The project generates an estimated US$8,650 per tonne of free cash flow during life-of-mine operations after construction of the chemical plant.

READ: Piedmont Lithium acquires site for planned US lithium chemical plant

Piedmont said that the commercial potential and staged development placed it in a strong position to engage in discussions around future financing, including with prospective strategic and offtake partners.

Phillips said: “We look forward to an exciting period ahead as we work to enhance the project even further through continued growth in our resource base and project life, and the evaluation of potential by-product credits.”

READ: Piedmont Lithium sees added value from by-products in future mining operation

The company will now proceed with a pre-feasibility study targeted for completion early in 2019.

This will incorporate a by-product study, additional drilling on the Core property, metallurgical studies and continued expansion of the company’s land position.

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Thu, 19 Jul 2018 11:54:00 +1000 https://www.proactiveinvestors.com.au/companies/news/201095/piedmont-lithiums-scoping-study-delivers-compelling-economics-for-integrated-lithium-project-201095.html
<![CDATA[News - Piedmont Lithium tests produce consistent high-grade concentrate from US lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/200898/piedmont-lithium-tests-produce-consistent-high-grade-concentrate-from-us-lithium-project-200898.html Piedmont Lithium Ltd (ASX:PLL) (NASDAQ: PLLL) has produced consistent high-grade spodumene concentrates with low iron content in tests of samples from its lithium project in North Carolina, USA.

The bench-scale metallurgical tests included spodumene flotation optimization, magnetic separation to remove iron from spodumene concentrate and heavy liquid separation (HLS).

Piedmont partnered with North Carolina State University’s Minerals Research Laboratory (MRL) to complete the tests.

READ: Piedmont Lithium acquires site for planned US lithium chemical plant

The company is developing a vertically integrated model for its Piedmont Lithium Project in the world-class Carolina Tin-Spodumene Belt.

Spodumene direct flotation tests followed by magnetic separation tests were conducted on four samples of Piedmont ore.

Encouraging flotation results

Flotation results showed that spodumene concentrates with grades of greater than 6.0% lithium oxide were achievable with two-stage magnetic separation tests reducing iron content to less than 1.0%.

It was also demonstrated that the ultimate tailings streams of the bench-scale flowsheet had low lithium oxide losses.

These results will underpin the spodumene concentrator process design within a scoping study for the project, which is expected later this quarter.

The bench-scale results will also be used to guide future pilot-scale test work programs.

Heavy liquid separation results

MRL conducted HLS tests on an ore sample to evaluate a potential dense medium separation (DMS) circuit for upgrading spodumene prior to flotation.

Results showed that the potential DMS circuit may produce a final spodumene concentrate with a lithium oxide content of 5-6% at a specific gravity cut of 2.95.

In addition, the DMS may exclude a portion of the raw feed to final tailings with low lithium oxide losses at a specific gravity cut of 2.70.

Finally, the portion of the feed in the specific gravity range of -2.95+2.70 considered as middlings may produce a pre-concentrated feed to the flotation circuit.

DMS a potential circuit

HLS summary data showed that DMS may be a potential circuit within Piedmont’s planned spodumene concentrator.

The company will undertake trade-off studies and further tests to evaluate the potential of DMS as a pre-concentration or final product process circuit design.

These studies will be included in a planned update to the scoping study, which is expected to be completed by the end of the year.

The completed test work confirms the interim flotation and magnetic separation results achieved earlier this year with additional tests on four composited samples from multiple exploration corridors within the core property.

READ: Piedmont Lithium sees added value from by-products in future mining operation

MRL is now concluding bench-scale by-products production tests from tailings samples with final results expected in the coming weeks.

The tests include evaluation for the potential of saleable quartz, feldspar, and mica products.

Piedmont expects to produce a minimum of 100-kilogram sample of spodumene concentrate for bench-scale lithium chemical conversion test work.

This test work is expected to start in the second half of 2018 while pilot plant-scale concentration test work using a bulk sample is also scheduled.

Initial ore sorting test work is scheduled for early August using Steinert ore sorting technology.

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Tue, 17 Jul 2018 12:28:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200898/piedmont-lithium-tests-produce-consistent-high-grade-concentrate-from-us-lithium-project-200898.html
<![CDATA[News - Piedmont Lithium acquires site for planned US lithium chemical plant ]]> https://www.proactiveinvestors.com.au/companies/news/200150/piedmont-lithium-acquires-site-for-planned-us-lithium-chemical-plant-200150.html Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLLL) has acquired a parcel of land in North Carolina as a potential site for its planned lithium chemical plant.

Acquisition of the 60.6-acre site in Kings Mountain represents an important step in the development of the vertically integrated Piedmont Lithium Project.

The site is around a 20-mile truck haul from the company’s proposed spodumene mine and concentrator, minimising the freight cost for concentrate delivery to the proposed facility.

READ: Piedmont Lithium sees added value from by-products in future mining operation

Piedmont’s president and CEO Keith Phillips said: “We are very pleased to have identified such an attractive site for our downstream operations.

“The site is a short drive from our core mining and concentration properties, it is the proper scale for our contemplated lithium chemical production operations, and it offers all the infrastructure one would seek for such a facility.

“Piedmont is focused on building an integrated lithium chemical operation in North Carolina, and this site will be an integral part of our plans.”

READ: Piedmont Lithium reveals maiden lithium JORC resource

The planned plant will convert Piedmont Lithium-produced spodumene concentrate to lithium chemicals, with a focus on battery-grade lithium hydroxide.

This commands a pricing premium relative to lithium carbonate, and recent studies report that lithium hydroxide produced from spodumene has a production cost advantage relative to production from brines.

Access to infrastructure

Zoned heavy-industrial, the chosen plant site has direct access to a Norfolk Southern rail line, Interstate I-85 and US Highway 29.

There is also natural gas and power transmission immediately adjacent to the property.

The plant site is within 20 miles of the Piedmont Lithium Project.

The site will be included in the company’s scoping study, which is on track for completion during the current quarter.

Piedmont Lithium will begin permitting for the lithium chemical plant upon completion of the scoping study.

Within a world-class tin-spodumene belt

The company’s lithium project is within the world-class Carolina Tin-Spodumene Belt (TSB) and along trend to the Hallman Beam and Kings Mountain mines.

Historically these mines provided most of the western world’s lithium between the 1950s and the 1980s.

The TSB has been described as one of the world’s largest lithium provinces and is about 25 miles west of Charlotte, North Carolina.

It is a premier location to be developing an integrated lithium business based on a number of factors.

These include favourable geology, proven metallurgy and easy access to infrastructure, power, R&D centres for lithium and battery storage, major high-tech population centres and downstream processing facilities.

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Thu, 05 Jul 2018 11:05:00 +1000 https://www.proactiveinvestors.com.au/companies/news/200150/piedmont-lithium-acquires-site-for-planned-us-lithium-chemical-plant-200150.html
<![CDATA[News - Piedmont Lithium sees added value from by-products in future mining operation ]]> https://www.proactiveinvestors.com.au/companies/news/199905/piedmont-lithium-sees-added-value-from-by-products-in-future-mining-operation-199905.html Piedmont Lithium Ltd (ASX:PLL) has commenced a by-product study at its Piedmont Lithium Project in North Carolina, US.

The study will see a resource estimate completed for potential quartz, feldspar and mica concentrates as a by-product of a potential lithium operation.

Businesses in the region have need for by-product minerals

Piedmont’s president and CEO Keith D. Phillips said: “While many spodumene pegmatites include quartz, feldspar and mica mineralisation, most are located too remotely to economically serve the important markets for these products.

“Given our location in the industrial heartland of the USA, there is potential to deliver into large, glass, ceramic, building products and technology businesses that are based in our region and have great need for these minerals.

“The historic Hallman-Beam mine derived substantial revenue from by-products, and if we are able to do the same it will have a positive impact on our production costs.”

READ: Piedmont Lithium price target increased on back of maiden US lithium resource

Flotation tests and iron removal tests for the by-products concentrates has been completed and assays are pending.

Data and samples from these tests will be provided to potential off-take partners to evaluate commercial potential.

Updated scoping study to reflect by-product revenue

Following the recently reported maiden resource at Piedmont, the scoping study is expected to be released later this month.

Piedmont also plans to include revenue potential from by-products in an update to this scoping study expected to be available in late 2018.

The update will follow the mineral resource estimate underway and reflect feedback from potential customers.

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Mon, 02 Jul 2018 10:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199905/piedmont-lithium-sees-added-value-from-by-products-in-future-mining-operation-199905.html
<![CDATA[News - Piedmont Lithium price target increased on back of maiden US lithium resource ]]> https://www.proactiveinvestors.com.au/companies/news/199362/piedmont-lithium-price-target-increased-on-back-of-maiden-us-lithium-resource-199362.html Piedmont Lithium Ltd’s (ASX:PLL) (NASDAQ:PLLL) maiden lithium resource at its Piedmont project in the US has resulted in Foster Stockbroking upgrading its price target to 32 cents.

As well as increasing the target from 30 cents, Sydney-based Foster has maintained the Speculative Buy rating it had previously placed on Piedmont.

READ: Piedmont Lithium reveals maiden lithium JORC resource

The company has compiled a maiden resource of 16.19 million tonnes grading 1.12% lithium oxide for 182,000 tonnes for the project in North Carolina.

This is equivalent to 450,000 tonnes of lithium carbonate equivalent (LCE).

Foster analyst Mark Fichera said in an equity research report that the resource was at the upper end of Piedmont’s previous exploration target.

He said the resource was shallow and open-pittable, extending from surface to 200 metres depth, with an average depth of 150 metres.

READ: Piedmont Lithium has major shareholder AustralianSuper increase stake

Fichera said: “A spodumene SC6.0 price of US$750 per tonne was used to optimise the pit shell, which is below current spot prices and at upper end of consensus long-term forecasts.”

It is the first resource estimate completed in over 30 years in the historic Carolina Tin-Spodumene Belt.

The belt was the home to most of the world’s lithium production and processing from the 1950s until the 1980s.

Following is an extract from Foster’s report.

Investment highlights:

The majority of the resources (52%, or 8.5 million tonnes) was in the indicated category, which paves the way for the company to rapidly expedite a scoping study.

Piedmont also announced a new exploration target of 4.5 to 5.5 million tonnes at 1.1%-1.2% Li2O, in addition to the JORC resource.

The target is wholly within the Core property and includes direct extensions of the existing resource corridors.

Should the company be successful in converting the target, this would push the resource to over 20 million tonnes on the core property.

A scoping study, expected in Q3 of 2018, is the next major catalyst.

We expect the study to include financial metrics on the project such as operating and capital costs for mine, concentrator and conversion plant.

We anticipate it will highlight the attractive location of the project including availability of existing infrastructure and resources such as power, water, roads, rail, airport, local workforce and services, and favourable state permitting, labour costs, and taxes.

The Sunnyside property offers even more resource upside.

Drilling is underway at this 255-acre property and we envisage that this property could offer more resource potential should initial drill results prove promising.

Earnings and valuation:

We increase our valuation of PLL to $0.32/share (previously $0.30), following applying an updated average peer EV/resource tonne multiple of A$288/t on PLL’s resource and exploration target.

This multiple included a blend of both explorers, developers, and producers that are in the hard rock spodumene listed space in Australia and Canada.

We included the exploration target in our valuation to account for the additional resource potential at Piedmont, and a blend of producers in the multiple to account for the probability of PLL progressing Piedmont towards production.

Recommendation:

We maintain our Speculative Buy on PLL, and increase our 12-month price target to $0.32/share (previously $0.30), based on our valuation.

While one can argue that PLL is trading fairly near the implied valuation from for explorers or those in studies ($0.23/share) we note two major factors provide a strong argument to PLL successfully transitioning to a producer.

First, the location of Piedmont project in the favourable jurisdiction of North Carolina, surrounding infrastructure, and proven project development experience of the Board suggests the company can relatively quickly progress project into production.

North Carolina’s relative economic advantages.

Therefore we deem it prudent to attribute a partial blend of the average producer multiple to reflect the potential to progress Piedmont towards production.

Beyond scoping:

We expect the company to move rapidly into a pre-feasibility study on Piedmont post its scoping study, while also maintaining its permitting work, pilot scale metwork and resource drilling.

The company is targeting Q4 2019 for a final investment decision to mine, expecting that by then it would have the necessary approvals and DFS completed.

We also expect a by-products study, whereby PLL will examine the potential to commercially exploit mica, feldspar and quartz from Piedmont, which may contribute credits to the project.

Share price catalysts - Further drill results; - Results of Scoping Study; - By-products study; - Pilot-scale metallurgical test results; - Resource upgrade; - Permitting submission; - Feasibility study; and - Financing and offtake agreements ]]>
Fri, 22 Jun 2018 12:20:00 +1000 https://www.proactiveinvestors.com.au/companies/news/199362/piedmont-lithium-price-target-increased-on-back-of-maiden-us-lithium-resource-199362.html
<![CDATA[News - Piedmont Lithium reveals maiden lithium JORC resource ]]> https://www.proactiveinvestors.com.au/companies/news/198823/piedmont-lithium-reveals-maiden-lithium-jorc-resource-198823.html Piedmont Lithium Ltd (ASX:PLL) has compiled a maiden resource of 16.19 million tonnes grading 1.12% lithium oxide for 182,000 tonnes at its Piedmont Lithium Project in the US.

The JORC resource estimate is based on 231 core holes and 52% of the resource is classified in the Indicated category.

Significantly, this is the first resource estimate completed in over 30 years in the historic Carolina Tin-Spodumene Belt.

The belt was the home to most of the world’s lithium production and processing from the 1950s until the 1980s.

READ: Piedmont Lithium has major shareholder AustralianSuper increase stake

Piedmont’s president and CEO Keith D. Phillips said: “This high-grade maiden resource has surpassed our initial exploration target and represents an important milestone for Piedmont.

“The resource will underpin the upcoming scoping study, which we believe will reflect the significant advantages associated with our unique location.”

Piedmont is now focused on the completion of the scoping study which is expected in the September quarter of 2018.

Benefits of the strategic North Carolina location

Phillips added: “There are many interesting lithium projects being advanced around the world, but Piedmont has the only project based in the industrial heartland of the United States and the cradle of lithium production, with all the economic and strategic benefits that derive from that position.

“With regional exploration progressing and constructive conversations ongoing with numerous local land owners, we are optimistic that this initial resource will be just the beginning, and that Piedmont is well-positioned to develop a world-class, low-cost integrated lithium business in the United States.”

Metallurgy update expected shortly

Piedmont has concluded bench scale flotation optimisation tests and heavy liquid separation tests in May 2018.

A process test work report update is expected within the next several weeks.

Pilot test work is expected to commence within June 2018 and an ore sorting test work program is scheduled to be undertaken in August 2018.

Battery-grade lithium test work also planned

Conversion test work to demonstrate Piedmont’s ability to convert spodumene concentrate to battery grade quality lithium hydroxide monohydrate and lithium carbonate is planned.

This will occur upon conclusion of the pilot concentration test work program in the upcoming December half.

The company expects to select its conversion test work partner within June 2018.

READ: Piedmont Lithium sampling returns high-grade lithium at new property in Carolina Tin Spodumene Belt

Drilling is underway on the Sunnyside property with initial results expected in the coming weeks.

Drilling is expected to then follow on Piedmont’s Central property.

Further drilling programs will be developed over the next year which are expected to target the highest priority areas within the project.

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Thu, 14 Jun 2018 09:47:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198823/piedmont-lithium-reveals-maiden-lithium-jorc-resource-198823.html
<![CDATA[News - Piedmont Lithium concludes phase III drilling, moving towards maiden lithium resource ]]> https://www.proactiveinvestors.com.au/companies/news/198407/piedmont-lithium-concludes-phase-iii-drilling-moving-towards-maiden-lithium-resource-198407.html Piedmont Lithium Ltd (ASX:PLL) has completed its phase III drilling program and has received assay results from another 26 holes from the Piedmont Lithium Project in North Carolina, US.

For the phase III program, Piedmont has completed 124 holes totalling 21,360 meters on the Core Property within the project.

READ: Piedmont Lithium has major shareholder AustralianSuper increase stake

Highlight assays from the recent batch of 26 results include:

• 5.2 metres at 1.30% lithium oxide and 7.5 metres at 1.37% lithium oxide;
• 8.4 metres at 1.47% lithium oxide and 5.2 metres at 1.53% lithium oxide; and
• 20.4 metres at 1.61% lithium oxide.

Fifteen remaining holes from the phase III campaign have assays pending.

READ: Piedmont Lithium receives more drill results, maiden resource on schedule

Piedmont is planning to release a maiden resource estimate on the Core Property in the coming weeks.

Operational efficiencies during the phase III drilling allowed Piedmont to exceed the planned meterage of 20,000 and will allow for initial drilling on the Sunnyside and Central properties.

The necessary state permits have been received and drilling is underway at the Sunnyside Property with one hole completed.

READ: Piedmont Lithium begins trading on the Nasdaq

Results of drilling in these exploratory areas will be released in the coming weeks.

Piedmont president and chief executive officer Keith D. Phillips said: “Drilling on the core property is now complete and we look forward to issuing our maiden mineral resource estimate in the near future, accompanied by a revised exploration target.

“Additionally, we are excited about the exploration drilling that has commenced at Sunnyside and hopeful that we will identify significant resource upside on that property.”

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Thu, 07 Jun 2018 11:24:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198407/piedmont-lithium-concludes-phase-iii-drilling-moving-towards-maiden-lithium-resource-198407.html
<![CDATA[News - Piedmont Lithium has major shareholder AustralianSuper increase stake ]]> https://www.proactiveinvestors.com.au/companies/news/198055/piedmont-lithium-has-major-shareholder-australiansuper-increase-stake-198055.html Piedmont Lithium Ltd (ASX:PLL) has had AustralianSuper Pty Ltd increase its stake in the company to 7.77% from 6.66%.

AustralianSuper is a superannuation manager with more than 2.2 million members and more than $120 billion in assets under management.

It is the largest industry super fund in Australia and one of the largest funds of its type in the world.

READ: Piedmont Lithium receives more drill results, maiden resource on schedule

Piedmont recently received a further 41 holes from drilling at its 100% owned Piedmont Lithium Project in North Carolina, US.

As in previous assays, high-grade lithium mineralisation was encountered, with 40 of 41 holes showing high-grade mineralisation.

Highlights include 8.3 metres at 1.66% lithium oxide and 10.9 metres at 1.05% lithium oxide from the same hole.

Maiden JORC resource this quarter

Piedmont remains on schedule to release a maiden JORC resource estimate by the end of the June quarter of 2018.

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Fri, 01 Jun 2018 08:38:00 +1000 https://www.proactiveinvestors.com.au/companies/news/198055/piedmont-lithium-has-major-shareholder-australiansuper-increase-stake-198055.html
<![CDATA[News - Piedmont Lithium receives more drill results, maiden resource on schedule ]]> https://www.proactiveinvestors.com.au/companies/news/197145/piedmont-lithium-receives-more-drill-results-maiden-resource-on-schedule-197145.html Piedmont Lithium Ltd (ASX:PLL) has received a further 41 holes from drilling at its 100% owned Piedmont Lithium Project in North Carolina, US.

As in previous assays, high-grade lithium mineralisation was encountered, with 40 of 41 holes showing high-grade mineralisation.

Highlights include 8.3 metres at 1.66% lithium oxide and 10.9 metres at 1.05% lithium oxide from the same hole.

READ: Piedmont Lithium has multiple share price drivers emerging as it works towards September scoping study

Piedmont remains on schedule to release a maiden JORC resource estimate by the end of the June quarter of 2018.

The company has completed 117 holes totaling 20,279 meters.

Notably, the original 20,000-metre program has been extended due to operational efficiencies resulting in the original program coming in under budget allowing for additional metres.

Piedmont’s president and CEO Keith Phillips said: “Phase III drilling has been very successful.

“Strong results have been generated and the team has accomplished the project on-time and under budget.

“We are on track to have a maiden Mineral Resource estimate in June and a scoping study shortly thereafter.”

Exploration drilling at Sunnyside to commence in June

A drill rig will be mobilized to the Sunnyside property within the next few weeks as soon as the required state permit is issued.

The initial Sunnyside drilling is expected to consist of 4 to 6 holes totaling 600 to 900 meters.

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Thu, 17 May 2018 10:11:00 +1000 https://www.proactiveinvestors.com.au/companies/news/197145/piedmont-lithium-receives-more-drill-results-maiden-resource-on-schedule-197145.html
<![CDATA[News - Piedmont Lithium appoints former FMC mill manager Jim Harkins as technical advisor ]]> https://www.proactiveinvestors.com.au/companies/news/196958/piedmont-lithium-appoints-former-fmc-mill-manager-jim-harkins-as-technical-advisor-196958.html Piedmont Lithium Ltd (ASX:PLL) has appointed Jim Harkins, an expert in spodumene concentration, as a technical advisor to the company.

Harkins will provide peer review and technical support for Piedmont’s planned development of a spodumene concentrator in the historical Carolina Tin-Spodumene Belt (TSB) in North Carolina, US.

20 years of spodumene concentration experience

Harkins has over 35 years’ experience in mineral processing including 20 years in spodumene concentration.

He worked in senior engineering roles at FMC’s (NYSE:FMC) historical Hallman-Beam mine and was in mill management positions for nine years until FMC ceased operations at Hallman-Beam in 1998.

Harkins’ considerable experience in design engineering, operations, management and quality control of spodumene concentration will provide the company with tremendous knowledge as the Piedmont Lithium Project advances into further technical study.

READ: Piedmont Lithium has multiple share price drivers emerging as it works towards September scoping study

Harkins will participate in all aspects of Piedmont’s metallurgical test work program and engineering studies in a peer review capacity.

Piedmont president and chief executive officer Keith D. Phillips said: “We are very pleased to welcome Jim Harkins to our team as a Technical Advisor.

“With 20 years of spodumene concentration experience, including 9 years as the mill manager at FMC’s historic Hallman-Beam project, Jim is one of the world’s foremost experts in spodumene concentration, and is a further example of the deep lithium industry talent pool available in Gaston County, NC”.

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Tue, 15 May 2018 11:03:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196958/piedmont-lithium-appoints-former-fmc-mill-manager-jim-harkins-as-technical-advisor-196958.html
<![CDATA[News - Piedmont Lithium sampling returns high-grade lithium at new property in Carolina Tin Spodumene Belt ]]> https://www.proactiveinvestors.com.au/companies/news/196692/piedmont-lithium-sampling-returns-high-grade-lithium-at-new-property-in-carolina-tin-spodumene-belt-196692.html Piedmont Lithium Ltd (ASX:PLL) (Nasdaq:PLLL) has identified high-grade lithium mineralisation at the new Sunnyside property near its Piedmont Lithium Project in North Carolina, USA.

Grab samples have returned up to 3.47% lithium oxide with other high-grade results including 2.82%, 2.1% and 1.99% with mineralisation hosted in fine to coarse grained pegmatite.

READ: Piedmont Lithium begins trading on the Nasdaq

The 255-acre property is immediately south of the historical Hallman Beam Mine and less than five miles from the Piedmont project.

Hallman Beam was operated by FMC Corp (NYSE:FMC) for 43 years.

Piedmont’s properties are in the prolific Carolina Tin Spodumene Belt and along trend to Hallman Beam and Kings Mountain mines, which provided most of the western world’s lithium between the 1950s and the 1990s.

READ: Piedmont Lithium enhances its lithium package in North Carolina, US

President and chief executive officer Keith Phillips said: “We are excited about the prospectivity of our new property.

“The naming is intended to highlight the potential significance of the Sunnyside area to the broader Piedmont Lithium Project.”

Two large surface exposures of spodumene-bearing pegmatite have been identified by initial sampling and mapping.

READ: Piedmont Lithium has multiple share price drivers emerging as it works towards September scoping study

These will be the main target of initial drilling which Piedmont intends to start in the coming weeks following completion of infill drilling on the core property.

Initial drilling is expected to consist of four to six diamond drill holes totalling 600-1000 metres.

Maiden Piedmont resource expected

“A successful drill campaign is nearing completion on the core property and a maiden resource is expected by the end of June,” Phillips said.

“We will then turn our attention to Sunnyside, where we are hopeful that mine-life and/or throughput additions will have a materially positive impact on the economics of the integrated project.”

Two exposures recognised

Initial Sunnyside interpretations recognise two bodies that generally trend to the west-northwest, sub-parallel to the trend of the historic Hallman Beam deposit.

Surface exposures of outcrop/sub-crop/float range from 60 metres by 150 metres for the northern body and from 25 metres by 150 metres for the southern body.

Coarse-grained varieties commonly contain spodumene crystals greater than 10 centimetres in length.

Locally, textural and/or compositional banding is observed which consistently dips moderately to the south.

About 280 metres southwest of the main occurrence, several float blocks were sampled and returned 2.61% Li2O.

Also, to the southwest, the property owner reported spodumene in cuttings from a drilled water well.

High-priority target

Piedmont is highly encouraged by these initial results and considers the Sunnyside exposures as a high-priority drill target.

The company is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region.

Its aim is to develop a strategic, US domestic source of lithium to supply the increasing electric vehicle and battery storage markets.

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Thu, 10 May 2018 11:16:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196692/piedmont-lithium-sampling-returns-high-grade-lithium-at-new-property-in-carolina-tin-spodumene-belt-196692.html
<![CDATA[News - Piedmont Lithium begins trading on the Nasdaq ]]> https://www.proactiveinvestors.com.au/companies/news/196497/piedmont-lithium-begins-trading-on-the-nasdaq-196497.html Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLLL) last night commenced trading of its American Depositary Receipts (ADRs) on the Nasdaq Capital Market.

Each ADR represents 100 ordinary shares in the company, which last traded on the ASX at 15.5 cents per share.

The Nasdaq listing did not involve a capital raising and the company remains fully financed for its 2018 activities.

It had $12.7 million in cash at the end of the March quarter.

READ: Piedmont Lithium has multiple share price drivers emerging as it works towards September scoping study

Piedmont’s president and CEO Keith D. Phillips said: “Nasdaq is one of the world’s premier venues for growth companies, and we expect this listing will provide increased liquidity for current investors and will increase Piedmont’s exposure to institutional and retail investors in the United States.

“The Nasdaq listing comes at an important time in our company’s evolution, with a maiden Mineral Resource expected next month and a scoping study planned for Q3 2018.

“We will now be launching aggressive investor outreach across the United States, anchored by presentations next week at the New York, Chicago and San Francisco Benchmark Minerals Intelligence events co-sponsored by Bloomberg and Deutsche Bank.”

Nasdaq has three market tiers

The Nasdaq is comprised of three market tiers:

• The Nasdaq Global Select Market;
• The Nasdaq Global Market (formerly the Nasdaq National Market); and
• The Nasdaq Capital Market (formerly the Nasdaq SmallCap Market).

For a company to trade on the Nasdaq, it must meet the listing requirements of at least one of three market tiers.

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Tue, 08 May 2018 09:37:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196497/piedmont-lithium-begins-trading-on-the-nasdaq-196497.html
<![CDATA[News - Piedmont Lithium has multiple share price drivers emerging as it works towards September scoping study ]]> https://www.proactiveinvestors.com.au/companies/news/196006/piedmont-lithium-has-multiple-share-price-drivers-emerging-as-it-works-towards-september-scoping-study-196006.html Piedmont Lithium Ltd (ASX:PLL) (OTC-Nasdaq:PLLLY) holds a 100%-interest in the Piedmont Lithium Project within the world-class Carolina Tin-Spodumene Belt (TSB) of the USA.

Its territory also extends along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world’s lithium between the 1950s and the 1990s.

The TSB is recognised as one of the largest lithium provinces in the world and is about 25 miles west of Charlotte, North Carolina.

Access to infrastructure and close to end markets

However, it isn’t just the region’s historical production that makes this region attractive for Piedmont.

Management regards it as a premier location to develop an integrated lithium business based on its favourable geology, proven metallurgy and easy access to infrastructure.

Its proximity to end markets is another attraction.

Centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities are in relatively close proximity and easily accessible.

A rich history

The project was originally explored by Lithium Corporation of America which eventually was acquired by FMC Corporation (NYSE:FMC).

FMC is a US$10.8 billion US chemical manufacturing group with its headquarters in Philadelphia.

FMC and the US$10.6 billion US-based chemical group Albemarle Corporation (NYSE:ALB) mined the lithium-bearing spodumene pegmatites within the TSB.

They developed and continue to operate the two world-class lithium processing facilities in the region which were the first modern spodumene processing facilities in the western world.

Back to the future

Piedmont is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region.

Management aims to develop a source of lithium to supply the increasing electric vehicle and battery storage markets.

Piedmont, through its 100%-owned US subsidiary, Piedmont Lithium Inc, has entered into exclusive option agreements and land acquisition agreements with local landowners.

Upon exercise, these will allow the company to purchase, or in some cases lease on a long-term basis, about 1,200 acres of surface property and the associated mineral rights.

Two-pronged strategy

Piedmont has already been successful in growing its land position, having acquired 630 acres in four separate transactions between September 2017 and March 2018.

The group’s current land package comprises 1,200 acres, and there is the potential to expand this position.

In tandem with building its acreage, Piedmont has undertaken an aggressive drilling campaign.

Drilling results provide sustained share price momentum

Piedmont’s share price more than doubled between August and November 2017 on the back of expansion of the group’s land portfolio and drilling results.

The phase II exploration program which totalled more than 12,000 metres of diamond core drilling delivered results from 93 holes and this was the basis of the exploration results.

The following chart shows three distinct share price movements, the first being between late August and early October with the company was building its lithium mineral rights portfolio.

The doubling in its share price during this period highlights the ongoing impact this could have as the company continues to build on its landholding.

The most significant sudden spike came in early November as the company’s shares soared 35% in a day under record volumes.

This was in response to the release of assay results from a further 26 drill holes of the phase II program.

They continued to confirm high-grade lithium mineralisation along the 4 kilometres of strike within the project.

The results featured impressive thicknesses and high grades including:

- 24.4 metres of cumulative thickness of mineralisation across 3 pegmatites including high-grade intercepts of 18 metres at 1.01% lithium and 2 metres at 1.28% lithium.

- 23.6 metres of cumulative thickness of mineralisation across 5 pegmatites including high-grade intercepts of 11.6 metres at 1.3% lithium and 6 metres at 1.1% lithium.

- 22.8 metres of cumulative thickness of mineralisation across 4 pegmatites including high-grade intercepts of 9.7 metres at 1.3% lithium and 5.7 metres at 1.4% lithium.

Drilling statement highlights scale and quality

The December/January upward momentum coincided with the company flagging the commencement of a 20,000-metre drill program.

However, the share price momentum would have been assisted by associated commentary regarding exploration targets.

The company said: "Based on the drilling results on the portions of the project explored to date and geological modelling of the pegmatites, an initial exploration target of between 10 to 15 million tonnes at a grade of between 1.00% and 1.25% lithium has been estimated by CSA Global."

Phillips flags imminent resource estimate

Piedmont chief executive officer Keith Phillips said: “We are extremely pleased with the scale of our initial exploration target for the project.

“This is based on the portion of our initial core land package that has been drilled to date, leaving considerable upside as we broaden our drill horizons and continue to expand our land package.

“Our next drilling program will position us to announce a maiden mineral resource in early to mid-2018, which will serve as the basis of a scoping study on the project shortly thereafter.”

The releases of both the resource estimate and the scoping study have the potential to provide substantial share price momentum.

Metrics to come under the microscope

Release of this data will allow everyone from retail and institutional investors through to brokers to fully assess the Piedmont Lithium Project.

Like-for-like comparisons will be made with other projects based on the size of the mineral resource.

The scoping study will flesh out key valuation data which will provide a good insight into the economic viability the project, as well as providing assumptions regarding mine life and production rates.

While the pre-feasibility study and feasibility study will provide more accurate information, Piedmont should be in a position where it can start discussions with offtake partners and financiers.

As these developments occur and decisions such as permitting are forthcoming, projects are substantially de-risked and these are the longer-term milestones to monitor.

What needs to be kept in mind though is that information released by the company in the next six months will provide a strong indication of the project's capacity to tick the boxes down the track.

Impact of recent legislation

There is one external aspect which could have a significant impact on the project’s progress through these various stages.

On December 20, 2017, US President Donald Trump signed an Executive Order announcing, “It shall be the policy of the Federal Government to reduce the nation’s vulnerability to disruptions in the supply of critical minerals, which constitutes a strategic vulnerability for the security and prosperity of the United States.”

Lithium is one of the 23 critical mineral resources previously identified by the US Geological Survey.

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act, which will reduce the US corporate tax rate from 35% to 21%, while also allowing for accelerated depreciation of eligible capital expenditures.

In responding to these developments and their potential significance for the Piedmont project Phillips said: “Ours is one of the world’s best-located lithium projects and these two important policy initiatives will further improve our strategic positioning.

Cost and fast-tracking benefits

“Among other benefits of the US Administration’s renewed emphasis on the domestic production of critical materials, we expect a streamlining of the federal permitting process which may accelerate our transition from developer to producer.

“Furthermore, we aim to demonstrate low capital and operating costs when we complete our initial scoping study mid-year.

“We will now have the benefit of corporate tax rates that are lower than those in effect in any other major lithium producing region, which should positively impact our project’s after-tax IRRs (internal rate of return) in a material way.”

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Mon, 30 Apr 2018 12:04:00 +1000 https://www.proactiveinvestors.com.au/companies/news/196006/piedmont-lithium-has-multiple-share-price-drivers-emerging-as-it-works-towards-september-scoping-study-196006.html
<![CDATA[News - Piedmont Lithium's test work indicates spodumene concentrate grades of more than 6% lithium ]]> https://www.proactiveinvestors.com.au/companies/news/194464/piedmont-lithium-s-test-work-indicates-spodumene-concentrate-grades-of-more-than-6-lithium-194464.html Piedmont Lithium Ltd's (ASX:PLL) recent flotation test work has indicated spodumene concentrate grades in excess of 6% lithium for its project in the Carolina Tin-Spodumene Belt in North Carolina, USA.

The company remains on schedule to release a maiden mineral resource estimate by the end of this quarter.

Drilling results released last week were promising.

READ: Piedmont Lithium receives drill assays ahead of maiden JORC resource

An integrated scoping study should be released in the third quarter of 2018.

President and chief executive officer Keith Phillips said: “The progress made over the past several months with land acquisition, drilling and metallurgical test work reinforces our view that the project will develop into a world-class, low cost, integrated lithium operation, as formerly existed in North Carolina.

“The company aims to develop the project on a phased approach using conventional technology, much of which was initially developed in our home region.”

Initial test work features high grades

Looking beyond the establishment of a maiden mineral resource and the scoping study, baseline permitting work is underway and applications are on track for submission in the fourth quarter of 2018.

However, the most likely near-term share price catalysts are results from drilling and the establishment of a maiden resource.

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Mon, 09 Apr 2018 09:33:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194464/piedmont-lithium-s-test-work-indicates-spodumene-concentrate-grades-of-more-than-6-lithium-194464.html
<![CDATA[News - Piedmont Lithium receives drill assays ahead of maiden JORC resource ]]> https://www.proactiveinvestors.com.au/companies/news/194197/piedmont-lithium-receives-drill-assays-ahead-of-maiden-jorc-resource-194197.html Piedmont Lithium Ltd (ASX:PLL) has intersected lithium mineralisation in all 21 of its latest holes assayed at the Piedmont Lithium Project in North Carolina.

The infill drilling component of the 20,000-metre program is nearing completion and the maiden JORC resource estimate remains on track for delivery in the June 2018 quarter.

Highlights from the latest assays include 14.6 metres at 1.21% lithium oxide.

Drill rigs will soon move to high priority exploration targets

Piedmont’s president and CEO Keith Phillips said: “Infill drilling is going very well and resource modelling is ongoing.

“We look forward to completing the infill work soon and then shifting to exploration drilling, leading ultimately to a maiden mineral resource estimate in June and a scoping study shortly thereafter.”

Drill rigs will move to high-priority exploration targets on its properties, which will be the focus of the remaining 7,000 metres of drilling.

READ: Piedmont Lithium drill results continue to enhance lithium potential in the US

The latest assays build upon previous drilling results and continue to show similar high-grade mineralisation and pegmatite intercepts.

Piedmont has six drill rigs on site and has completed 76 holes for about 13,000 meters of its planned 20,000-metre phase III program.

Highlights included:

• 14.6 metres at 1.21% lithium oxide;
• 6.0 metres at 1.44% lithium oxide;
• 10.0 metres at 1.19% lithium oxide; and
• 8.1 metres at 1.68% lithium oxide.

Notably, individual drill holes had cumulative thicknesses of mineralisation ranging up to 26.5 metres across 7 pegmatites.

Drilling about to change focus to exploration

To date, 73 infill holes totalling just over 12,500 metres have been completed whereas only 3 exploration holes for 500 metres have been completed.

Piedmont expects the completion of the infill drilling campaign in the coming weeks with emphasis switching to the exploration and wide spaced drilling portion of the phase III program

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Wed, 04 Apr 2018 10:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/194197/piedmont-lithium-receives-drill-assays-ahead-of-maiden-jorc-resource-194197.html
<![CDATA[News - Piedmont Lithium advances process to list on larger Nasdaq market ]]> https://www.proactiveinvestors.com.au/companies/news/193338/piedmont-lithium-advances-process-to-list-on-larger-nasdaq-market-193338.html Piedmont Lithium Ltd (ASX:PLL) has filed a registration statement on Form 20-F to register its ordinary shares with the United States Securities and Exchange Commission (SEC).

In late 2017, Piedmont joined the Nasdaq International Designation Program, which allowed it to trade on the over-the-counter (OTC) market.

Piedmont has most recently made an application to list on the Nasdaq Capital Market, an exchange providing greater access to investors and capital for the company.

It would do this through the listing of American depositary shares (ADS), where each ADS would be worth 100 shares in Piedmont.

Jorge M. Beristain appointed to board of directors

Furthermore, Jorge M. Beristain has been appointed to the company’s board as an independent non-executive director.

Beristain has a 20-year career on Wall Street and most recently retired as managing director and head of Deutsche Bank’s Americas metals and mining equity research.

He was consistently ranked by institutional investors as one of the top analysts in the US.

Beristain will replace the outgoing Robert Behets.

READ: Piedmont Lithium drill results continue to enhance lithium potential in the US

Keith D. Phillips, president and CEO, said: “Our proposed US listing is an important milestone for Piedmont Lithium and is expected to create greater exposure among institutional and retail investors in the US and internationally.

“We are also pleased to welcome Jorge to the Board and are confident that we will gain from his independent perspective and deep relationships within the institutional investor community.”

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Mon, 19 Mar 2018 10:45:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193338/piedmont-lithium-advances-process-to-list-on-larger-nasdaq-market-193338.html
<![CDATA[News - Piedmont Lithium drill results continue to enhance lithium potential in the US ]]> https://www.proactiveinvestors.com.au/companies/news/193196/piedmont-lithium-drill-results-continue-to-enhance-lithium-potential-in-the-us-193196.html Piedmont Lithium Ltd (ASX:PLL) is continuing to receive high-grade lithium drilling results from its properties in the Carolina Tin-Spodumene Belt (TSB) in North Carolina, US.

READ: Piedmont Lithium enhances its lithium package in North Carolina, US.

The results include intersects of 4.5 metres at 1.87% lithium oxide, 4 metres at 1.78% lithium oxide, 6 metres at 1.39% lithium oxide and 8.3 metres at 1.10% lithium oxide.

Piedmont president and chief executive officer Keith D. Phillips said: “These infill drill results are consistent with our expectations, and with six rigs on property we look forward to a steady stream of drilling news over the next several weeks, leading ultimately to a maiden resource estimate in June and a scoping study shortly thereafter.”

20,000-metre phase III drilling program well advanced

Piedmont has received the assay results from the final 17 holes from the phase II campaign and the first 21 holes from the current phase III drilling campaign.

The results build upon the previous drilling completed on the property and continue to show similar high-grade mineralisation and pegmatite intercepts.

The company has six drill rigs on site and has already completed 52 holes totalling just over 9,000 meters of its planned 20,000-metre phase III program.

READ: Piedmont Lithium initiates scoping study on its lithium project in the US

The results from last year’s and the current drilling campaign continue to give Piedmont confidence in being able to define a shallow, surface mineable resource which is strategically located within the historical lithium mining and processing region of the USA.

The company is aiming to release its maiden resource estimate in accordance with JORC by the end of the second quarter 2018 and follow with an integrated scoping study in the third quarter 2018.

More than 30 holes are currently being assayed with results expected in April.

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Thu, 15 Mar 2018 11:16:00 +1100 https://www.proactiveinvestors.com.au/companies/news/193196/piedmont-lithium-drill-results-continue-to-enhance-lithium-potential-in-the-us-193196.html
<![CDATA[News - Piedmont Lithium enhances its lithium package in North Carolina, U.S. ]]> https://www.proactiveinvestors.com.au/companies/news/192636/piedmont-lithium-enhances-its-lithium-package-in-north-carolina-us-192636.html Piedmont Lithium Ltd (ASX:PLL) is continuing to enhance its first-mover advantage by securing an additional 107 acres within the historical Carolina Tin-Spodumene Belt (TSB) in North Carolina, U.S.

This increases Piedmont’s total land holdings to 1,199 acres and, more importantly, consolidates a further 137-acre land position just south of the company’s core land package where five rigs are currently drilling.

Grab samples have been collected from the new area with nine of the samples returning high-grade lithium, with results including 2.89%, 2.58% and 2.20% lithium oxide.

READ: Piedmont’s lithium strategy attracts broker coverage

Keith D. Phillips, president and chief executive officer, said: “The addition of a third large contiguous land block is highly strategic, particularly given the new property’s location on-trend and midway between our current core land package and the historic Hallman-Beam mine, one of the world’s largest sources of lithium from the 1950s to the 1990s.

“Our geologists are excited about the prospects on the new land, and we are optimistic that our strategy of TSB land consolidation will position us to develop a large, long-lived integrated lithium project.”

READ: Piedmont Lithium conducts further drilling aimed at establishing a maiden resource

Piedmont continues to make significant progress on its 20,000-metre drilling campaign, with the first 13,000 metres committed to infill drilling to define the maiden resource.

On completion of the infill drilling, the company expects to move one or more of the five rigs to the newly acquired properties to test the high-priority drill targets.

Piedmont will report on the progress of the current drilling campaign and future drill targets over the course of this quarter.

READ: Piedmont Lithium initiates scoping study on its lithium project in the U.S.

The company recently appointed Primero Group and CSA Global to manage a scoping study on the Piedmont Lithium Project.

The scoping study is expected to be published shortly after preparing the maiden resource.

Meanwhile, Piedmont is continuing to add to its land position in the TSB during the course of 2018 with management in discussions with multiple landowners in the region to secure additional land.

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Tue, 06 Mar 2018 11:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/192636/piedmont-lithium-enhances-its-lithium-package-in-north-carolina-us-192636.html
<![CDATA[News - Piedmont Lithium's acquisition increases North Carolina lithium package to 245 acres ]]> https://www.proactiveinvestors.com.au/companies/news/190948/piedmont-lithium-s-acquisition-increases-north-carolina-lithium-package-to-245-acres-190948.html Piedmont Lithium Ltd’s (ASX:PLL) increase of its lithium mineral rights by 188 acres has benefits in that it adjoins 57 acres where the company has an option to purchase.

In acquiring the rights, the company negotiated a land acquisition agreement signed with local landowners in the Carolina Tin-Spodumene Belt in North Carolina, United States.

The new acreage combined with that under option creates a 245 acre contiguous land package in close proximity to the past-producing Hallman-Beam mine.

Close proximity to phase 3 drilling program

The acreage is within four miles of the company’s current Phase 3 drilling program.

Piedmont’s intends to consolidate land in the region between its newly optioned and historical landholdings.

This is in keeping with its strategy to support the large and long-lived integrated lithium project the company intends to develop and to this and it is commencing a scoping study.

READ: Piedmont Lithium initiates scoping study on its lithium project in the US Management suggests this could increase the size of the lithium project

Keith Phillips, chief executive officer, said: “This land acquisition is highly-strategic because the property is located on-trend and immediately south of the historic Hallman-Beam mine.

“This was one of the world’s largest sources of lithium from the 1950s to the 1990s.

“In combination with 57 adjacent acres we already control, we now have a 245-acre package which could serve as a second core mining area.

“This could enable our company to significantly increase the size of the lithium project.”

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Thu, 01 Feb 2018 10:29:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190948/piedmont-lithium-s-acquisition-increases-north-carolina-lithium-package-to-245-acres-190948.html
<![CDATA[News - Piedmont Lithium initiates scoping study on its lithium project in the U.S. ]]> https://www.proactiveinvestors.com.au/companies/news/190503/piedmont-lithium-initiates-scoping-study-on-its-lithium-project-in-the-us-190503.html Piedmont Lithium Ltd (ASX:PLL) (OTCMKTS:PLLLY) is commencing a scoping study on its Piedmont Lithium Project located within the world-class Carolina Tin-Spodumene Belt in North Carolina, U.S.

READ: Piedmont Lithium adds U.S. expertise to enhance lithium strategy

The company has appointed Primero Group and CSA Global to manage the study.

Keith D. Phillips, president and chief executive officer, said: “The experience and ability that these companies bring to Piedmont Lithium’s scoping study efforts will add value to our exciting project as the company begins its next stage of project development.

“The addition of a conversion plant to the scoping study potentially enhances Piedmont’s position as one of the world’s best-located lithium projects.”

READ: Piedmont’s lithium strategy attracts broker coverage

The scoping study will address an integrated project including mine, concentrator and lithium conversion plant.

The location of the project in mining-friendly North Carolina is expected to provide many positive advantages to the integrated project.

Maiden resource is due in Q2 2018

Piedmont is expected to complete the scoping study early in Q3 2018.

The scoping study will be published shortly after preparing a maiden resource, which is expected in Q2 2018.

Lead engineer brings valuable lithium experience to the project

Primero Group has been appointed as lead engineer and will focus on the concentrator and lithium conversion plant aspects of the study.

Primero brings valuable hard rock lithium experience to the project, having been engaged on recent projects in Australia and Canada at the scoping, feasibility, and project delivery level.

CSA has been appointed to complete the mine design, and has been working with Piedmont on resource geology, quality assurance and database management on the project.

In parallel with these engineering study efforts, Piedmont is expected to begin its permitting process and metallurgical test work programs in Q1 2018.

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Wed, 24 Jan 2018 11:37:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190503/piedmont-lithium-initiates-scoping-study-on-its-lithium-project-in-the-us-190503.html
<![CDATA[News - Piedmont Lithium to benefit from two major U.S. policy changes ]]> https://www.proactiveinvestors.com.au/companies/news/190141/piedmont-lithium-to-benefit-from-two-major-us-policy-changes-190141.html Piedmont Lithium Ltd (ASX:PLL) is set to benefit from two important U.S. federal policy changes related to critical minerals and corporate taxes signed off on in late-2017.

The changes reinforce the strategic and financial benefits of the company’s unique location within the world-class Carolina Tin-Spodumene Belt in the U.S. state of North Carolina.

Trump signed off on two policy changes in December 2017

President Donald Trump signed an executive order on December 20, 2017 regarding a policy to reduce the country’s vulnerability to disruptions in the supply of critical minerals.

Lithium is one of the 23 critical mineral resources identified by the U.S.

Similarly, the Tax Cuts and Jobs Act that Trump signed on December 22, 2017 will reduce the U.S. corporate tax rate from 35% to 21% as well as provide other accounting benefits.

Initial scoping study due mid-year

Keith Phillips, chief executive, said: “Ours is one of the world’s best-located lithium projects, and these two important policy initiatives will further improve our strategic positioning.

“Among other benefits of the U.S. Administration’s renewed emphasis on the domestic production of critical materials, we expect a streamlining of the federal permitting process which may accelerate our transition from developer to producer.

“Furthermore, we aim to demonstrate low capital and operating costs when we complete our initial scoping study mid-year, and we will now have the benefit of lower corporate tax rates than are in effect in any other major lithium producing region, which should positively impact our project’s after-tax IRRs in a material way.”

READ: Piedmont Lithium adds U.S. expertise to enhance lithium strategy ]]>
Wed, 17 Jan 2018 13:02:00 +1100 https://www.proactiveinvestors.com.au/companies/news/190141/piedmont-lithium-to-benefit-from-two-major-us-policy-changes-190141.html
<![CDATA[News - Piedmont’s lithium strategy attracts broker coverage ]]> https://www.proactiveinvestors.com.au/companies/news/189910/piedmonts-lithium-strategy-attracts-broker-coverage-189910.html Piedmont Lithium Ltd (ASX:PLL OTCMKTS:PLLLY) is attracting broker attention due to its U.S. lithium strategy with Foster deriving a 12-month price target of $0.30 per share.

Sydney-based Foster has maintained the speculative buy rating it previously placed on Piedmont.

It has also moved Piedmont to formal research coverage status as it was formerly covered under ‘Talking Point’.

The company, which aims to build an integrated lithium business centred on the Piedmont Lithium Project in the Carolina Tin-Spodumene Belt, closed at $0.21 on Thursday.

READ: Piedmont Lithium adds U.S. expertise to enhance lithium strategy

Foster’s latest report follows U.S. investment firm Roth Capital Partners initiating coverage of Piedmont with a buy rating and an ADR price target of $US23.

In North America Piedmont shares trade as American depository receipts (ADRs) with each ADR having the same value as 100 ASX shares.

The ADRs were at US$17.11 in Thursday trading.

The following is an extract from Foster’s report.

Investment Highlights:

Piedmont Lithium (PLL) announced successful completion of its 12,262m Phase 2 drill campaign at its Piedmont project, with further assay results showing lithium mineralisation consistent with previous holes.

A new drill campaign of 20,000m was launched last month, with the aim of 1) Defining a maiden JORC Resource; and 2) Testing further extensions of pegmatites down dip and along strike.

PLL announced an Exploration Target of 10-15Mt at 1.0-1.25% for the Piedmont project, based on preliminary geological modelling of drill results so far. The target was estimated by CSA Global. We do not see the Target as indication of the final size of the project resource, but more as a starting base from what has been drilled to date. This is because mineralisation remains open along strike and depth.

We expect a maiden JORC Resource to be announced in early-mid CY2018, post the new drill campaign. 13,000m of the 20,000m drilling will be targeting infill, and we expect the Resource to comprise a significant Indicated component. This will facilitate PLL to soon complete a Scoping Study on Piedmont. We believe the company is at least targeting a ten year mine life at a 1Mtpa rate. Given the Exploration Target, this is certainly achievable.

PLL undertook a $16M equity placement in October 2017 which will expedite development of the project including the new drill campaign and studies. The company also has acquired further land acreage in Piedmont, increasing its holding by 26% to 903 acres. PLL is still engaged in conversations with landowners to acquire more land in the area.

Timeline:

We expect the drill campaign to comprise the bulk of activity in the 1QCY2018, which would then lead to a maiden JORC Resource in 2QCY2018, with a scoping study to follow soon after.

Once the scoping study is completed, PLL can then begin permitting.

Metallurgical testing of drilled core samples is underway at SGS Lakefield laboratory in Ontario, while the Mineral Research Laboratory in North Carolina is performing spodumene concentrate testing.

Further valuation upside:

The peer comparison suggests that PLL is trading near that implied for explorers or those in studies ($0.215/sh). However we note two major factors that can provide upside to PLL’s valuation over the next 12 months.

First, the location of Piedmont project in the favourable jurisdiction of North Carolina, surrounding infrastructure, and proven project development experience of the Board suggests the company can relatively quickly progress and permit the project, should it define a sufficient pittable resource.

Second, we have undertaken the comparative peer valuation on the current exploration target only. As was shown in Figure 4, the potential for PLL to further add resources outside the target exists. This is not to mention the additional acreage it is seeking to secure for Piedmont. Any uplift to the exploration target should have positive impact on valuation.

Consequently we believe that PLL’s valuation could move forward over the next 12 months, to be more in line with the average of its peers ($0.30).

Recommendation:

We maintain our Speculative Buy on PLL, and derive a 12-month price target (PT) of $0.300/share (previously no PT). Our price target is based on applying average peer EV/resource multiple to PLL’s Exploration Target.

Catalysts for the share price:

- Further drill results;

- Defining a maiden JORC Resource;

- Scoping and Feasability studies;

- Met test results;

- Permitting; and

- Financing and offtake agreements.

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Fri, 12 Jan 2018 12:31:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189910/piedmonts-lithium-strategy-attracts-broker-coverage-189910.html
<![CDATA[News - Piedmont Lithium adds U.S. expertise to enhance lithium strategy ]]> https://www.proactiveinvestors.com.au/companies/news/189763/piedmont-lithium-adds-us-expertise-to-enhance-lithium-strategy-189763.html Piedmont Lithium Ltd (ASX:PLL OTCMKTS:PLLLY) has added three experienced U.S. executives to its team as it seeks to advance its lithium strategy.

Patrick Brindle, David Buckley and Bruce Czachor have been appointed as senior officers of the company.

They will help drive different aspects of Piedmont’s plan to build an integrated lithium business centred on the Piedmont Lithium Project in the Carolina Tin-Spodumene Belt.

READ: Piedmont Lithium conducts further drilling aimed at establishing a maiden mineral resource

Patrick Brindle will be vice president – project management, David Buckley will be vice president – chief process engineer and Bruce Czachor will be vice president – general counsel.

Keith Phillips, president and chief executive officer, said, “I am excited that Patrick, Dave and Bruce have chosen to join the Piedmont team.

“Patrick is a highly experienced engineer and has been instrumental in taking many companies from scoping study through to production.

“He will be coordinating the technical and permitting studies we are commencing in early 2018.”

Decades of experience

Phillips said: “Dave has decades of experience in the sector, including several years focused on the Carolina Tin-Spodumene Belt.

“We are committed to building an integrated lithium business and Dave will be instrumental in the development of our downstream strategy.

“I have known Bruce for over 25 years and he will be extremely helpful in driving our U.S. capital markets strategy.

“He will play an important role in the strategic and offtake conversations that are beginning to develop.

“2018 year will be an exciting year for Piedmont, with metallurgical testing, a maiden resource and scoping study all planned for the first half of the year.”

Roth Capital initiates coverage

U.S.-based investment banking firm Roth Capital Partners has initiated coverage of Piedmont with a buy rating.

In North America Piedmont shares trade as American depository receipts (ADRs) with each ADR having the same value as 100 ASX shares.

Piedmont ADRs were last trading at US$17.39 in the U.S. on Tuesday and the Roth price target is US$23.

Roth Capital said: “Although we believe Piedmont’s recent drill campaign and the release of an exploration target provided investors with significant catalysts, the next few quarters could provide many more significant catalysts.”

Catalysts in 2018

These catalysts include phase III drilling of 20,000 metres, an initial resource estimate in the June quarter of 2018 and release of a scoping study in mid-2018.

Roth said: “The company is also likely to focus on a smaller initial project that significantly reduces the permitting time frame.

“We believe a shift in company expectations from a 21-month permitting process to a nine-month process would be a major positive catalyst.”

READ: Piedmont Lithium's Keith Phillips increases stake on-market

The Carolina Tin-Spodumene Belt has been described as one of the largest lithium provinces in the world and is circa 40 kilometres west of Charlotte, North Carolina.

It is a premier location to be developing an integrated lithium business due to its favorable geology, proven metallurgy and easy access to infrastructure, including power.

The belt is also adjacent to R&D centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities.

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Wed, 10 Jan 2018 11:48:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189763/piedmont-lithium-adds-us-expertise-to-enhance-lithium-strategy-189763.html
<![CDATA[News - Piedmont Lithium's Keith Phillips increases stake on-market ]]> https://www.proactiveinvestors.com.au/companies/news/189063/piedmont-lithium-s-keith-phillips-increases-stake-on-market-189063.html Piedmont Lithium Ltd's (ASX:PLL) chief executive officer, Keith Phillips, has demonstrated his confidence in the company’s U.S lithium strategy by increasing his direct stake with the purchase of 2,000 American depository receipts (ADRs) on-market.

The ADRs represent 200,000 shares and had a consideration of US$28,038.

Phillips’ direct holding is now 600,000 shares and 2500 ADRs.

Piedmont Lithium’s ADRs have only recently commenced trading on the OTC Market as a member of the Nasdaq International Designation under code PLLLY.

READ: Piedmont Lithium CEO buys shares on-market

In November Phillips purchased 50,000 shares and 500 ADRs on market with a total value of $19,479.

Piedmont recently increased its lithium mineral rights by 188 acres through additional land option and acquisition agreements in the Carolina Tin-Spodumene Belt in the U.S.

The Piedmont Lithium Project now encompasses 903 acres within the belt, representing a 118% increase from its initial landholding as at September 2016.

First mover advantage

Piedmont is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region.

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Thu, 21 Dec 2017 08:15:00 +1100 https://www.proactiveinvestors.com.au/companies/news/189063/piedmont-lithium-s-keith-phillips-increases-stake-on-market-189063.html
<![CDATA[News - Piedmont Lithium conducts further drilling aimed at establishing a maiden mineral resource ]]> https://www.proactiveinvestors.com.au/companies/news/188697/piedmont-lithium-conducts-further-drilling-aimed-at-establishing-a-maiden-mineral-resource-188697.html Piedmont Lithium Ltd (ASX:PLL) (OTCMKTS:PLLLY) has embarked on a 20,000-metre drilling program at its Piedmont Lithium Project located in Carolina, US.

This follows the company’s recent capital raising and is expected to build upon recent drilling success.

The project is located within the world-class Carolina tin-spodumene belt, a region that provided most of the western world’s lithium between 1950 and 1990.

Infill drilling aimed at defining a maiden resource

The new drill program will be focused on completing infill drilling for the definition of a maiden mineral resource.

It will also aggressively test the extensions of the pegmatites identified both along strike and down dip.

READ: Piedmont Lithium drill results extend lithium mineralisation further

Based on drilling results and geological modelling of the pegmatites, the company is expecting an initial exploration target of between 10 to 15 million tonnes.

Piedmont Lithium estimates lithium grades will be in a range between 1.00% and 1.25% as indicated by CSA Global.

Management confident of developing world-class integrated lithium operation

It is important to note though that the exploration target is conceptual in nature and there has not been sufficient exploration undertaken in order to estimate a classified mineral resource.

That said, management remains highly confident in its ability to develop a world-class integrated lithium operation in North Carolina and will continue its land acquisition strategy to capitalise on its first mover advantage.

The location of the project provides Piedmont with some key competitive strengths over some of its peers.

Proximity to processing facilities, end markets and essential infrastructure an advantage

These include it being the only independent spodumene project strategically located in the US with proximity to major downstream lithium processing facilities.

Importantly, the region is also well situated to service major US battery customers such as General Motors, BMW, Nissan and Tesla.

Piedmont Lithium also has ready access to low-cost gas and power infrastructure and major transport networks.

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Thu, 14 Dec 2017 08:47:00 +1100 https://www.proactiveinvestors.com.au/companies/news/188697/piedmont-lithium-conducts-further-drilling-aimed-at-establishing-a-maiden-mineral-resource-188697.html
<![CDATA[News - Piedmont Lithium drill results extend lithium mineralisation further ]]> https://www.proactiveinvestors.com.au/companies/news/187945/piedmont-lithium-drill-results-extend-lithium-mineralisation-further-187945.html Piedmont Lithium Ltd (ASX:PLL) has received assays for a further 26 holes from its phase II drilling program at its Piedmont Lithium Project within the Carolina Tin-Spodumene Belt in the U.S.

Results received continue to confirm high-grade lithium mineralisation along the four kilometres of strike within the project.

Intersections from the latest batch of assay results include 18.04 metres at 1.01% lithium oxide.

Assays have now been received for a total of 76 holes in the 93-hole phase II drill program.

READ: Piedmont Lithium makes use of first mover advantage

Preliminary geological modelling has, thus far, identified 38 pegmatite bodies within the 4+ kilometres of strike.

Notably, the vast majority of the pegmatites are being intersected at depths less than 100 meters from surface.

Assay results for the remaining 17 drill holes are expected to be received over the next few weeks.

Exploration aims to define a shallow, open-pitable lithium deposit

Highlights from the recent batch of assays include 24.38 metres of cumulative thickness across three pegmatites including 18.04 metres at 1.01% lithium oxide.

Similar results included 23.64 metres of cumulative thickness across five pegmatites and 22.82 metres of cumulative thickness across four pegmatites.

READ: Piedmont Lithium drill results confirm resource potential

As a result of the work done to date, Piedmont is confident in defining a shallow, open-pitable deposit within the Piedmont Lithium Project.

Keith Phillips, chief executive, said: “These additional drill results are outstanding and confirm our belief in the Piedmont Lithium Project.

“Our team has discovered a world-class mineral system with over 30 pegmatite bodies over a combined 4+ kilometres of strike length, virtually all within 100 meters of surface.

“We look forward to receiving the remaining Phase 2 assay results over the coming weeks.”

READ: Piedmont Lithium CEO buys shares on-market

Logging, sampling and shipping of all phase II drill core samples has been completed.

All assays from the phase II program should be received by early-December.

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Wed, 29 Nov 2017 15:50:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187945/piedmont-lithium-drill-results-extend-lithium-mineralisation-further-187945.html
<![CDATA[News - Piedmont Lithium CEO buys shares on-market ]]> https://www.proactiveinvestors.com.au/companies/news/187486/piedmont-lithium-ceo-buys-shares-on-market-187486.html Piedmont Lithium (ASX:PLL) has received a vote of confidence from Keith Phillips, President and CEO, who recently purchased 44,444 shares and 500 American depository receipts (ADRs) on-market.

The 500 ADRs purchased represent 50,000 shares and the ADRs have only recently commenced trading on the OTC Market as a member of the Nasdaq International Designation.

The purchases totalled $19,479 and increased Phillips’ total company shareholding to 600,000 shares and 500 ADRs.

Piedmont most recently increased its lithium mineral rights by 188 acres through additional land option and acquisition agreements in the Carolina Tin-Spodumene Belt in the U.S.

The Piedmont Lithium Project now encompasses 903 acres within the TSB, representing a 118% increase from its initial landholding as at September 2016.

Piedmont is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region.

READ NOW: Piedmont Lithium makes use of first mover advantage ]]>
Mon, 20 Nov 2017 19:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187486/piedmont-lithium-ceo-buys-shares-on-market-187486.html
<![CDATA[News - Piedmont Lithium makes use of first mover advantage ]]> https://www.proactiveinvestors.com.au/companies/news/187268/piedmont-lithium-makes-use-of-first-mover-advantage-187268.html Piedmont Lithium (ASX:PLL) has increased its lithium mineral rights by 188 acres through additional land option and acquisition agreements in the Carolina Tin-Spodumene Belt in the U.S.

The Piedmont Lithium Project now encompasses 903 acres within the TSB, representing a 118% increase from its initial landholding as at September 2016.

Piedmont is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region.

The 93-hole, 12,262-meter, Phase 2 diamond drilling program was recently completed and assays for the remaining 42 holes are expected over the coming weeks.

Keith Phillips, CEO, commented: “These strategic land acquisitions are on-trend and should enable us to grow mineral resources over time, ultimately leading to greater throughput and a longer mine life.

“These latest agreements increase our land holdings in the prolific Carolina Tin-Spodumene Belt by over 26%, and we are in conversations with many other landowners to further consolidate our position in the region.”

Initial prospecting at new area identifies spodumene

During initial prospecting, an area of multiple spodumene bearing float blocks was identified on one of the new properties. The blocks range up to 1 meter in scale.

Grab samples have been collected and submitted to the lab for analysis.

Prospecting and soil sampling are planned for all of the new properties in order to identify high priority drill targets.

First trading on the NASDAQ

The company’s first American Depository Receipts (ADRs) were traded on the OTC Market last week as a member of the Nasdaq International Designation.

Piedmont aims to develop substantial liquidity on the Nasdaq OTC market prior to its planned full U.S. listing early in 2018.

With a U.S. asset and a U.S.-based management team, the company expects to develop a strong following in the U.S. capital markets as a complement to its ASX base.

Recent capital raising

Piedmont recently completed a $16 million share placement to institutional and sophisticated investors in Australia, the U.S, Canada, and the U.K.

READ NOW: Piedmont Lithium completes $16M placement

The company is also expecting diamond drilling assays for 42-holes over the coming weeks after receiving a batch of assays earlier in November.

READ NOW: Piedmont Lithium drill results confirm resource potential ]]>
Wed, 15 Nov 2017 15:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/187268/piedmont-lithium-makes-use-of-first-mover-advantage-187268.html
<![CDATA[News - Piedmont Lithium gains new substantial holder as shares run ]]> https://www.proactiveinvestors.com.au/companies/news/186844/piedmont-lithium-gains-new-substantial-holder-as-shares-run-186844.html Piedmont Lithium (ASX:PLL) has a new substantial shareholder as AustralianSuper Pty Ltd has acquired 31.25 million shares in the company.

This gives the superannuation fund a 5.64% stake in Piedmont who is expediting development at its 100% owned Piedmont Lithium Project the U.S. state of North Carolina.

AustralianSuper is part of the largest industry super fund in Australia with more than 2.2 million members across the country that invests over A$119 billion across a range of asset classes.

Piedmont recently completed a $16 million share placement to institutional and sophisticated investors in Australia, the U.S, Canada, and the U.K.

READ NOW: Piedmont Lithium completes $16M placement

The company is expecting diamond drilling assays for 42-holes over the coming weeks.

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Tue, 07 Nov 2017 16:56:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186844/piedmont-lithium-gains-new-substantial-holder-as-shares-run-186844.html
<![CDATA[News - Piedmont Lithium completes $16M placement ]]> https://www.proactiveinvestors.com.au/companies/news/186702/piedmont-lithium-completes-16m-placement-186702.html Piedmont Lithium (ASX:PLL) has today issued 100 million shares to investors under its recently outlined share placement, which has raised $16 million.

As per the placement, shares priced at $0.16 have been issued to institutional and sophisticated investors in Australia, the U.S, Canada, and the U.K.

Funds raised will be used to expedite development of the company’s 100% owned Piedmont Lithium Project located in the world-class Carolina Tin-Spodumene Belt (TSB) in the U.S.

The TSB is one of the premier localities in the world to be exploring for lithium pegmatites given its history of lithium-bearing spodumene mining, favourable geology and ideal location.

The project has easy access to infrastructure, power, research centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities.

The TSB was the most important lithium producing region in the western world prior to the establishment of the brine operations in Chile in the late 1990s.

Piedmont is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region.

The 93-hole, 12,262-meter, Phase 2 diamond drilling program was recently completed and assays for the remaining 42 holes are expected over the coming weeks.

READ NOW: Piedmont Lithium drill results confirm resource potential ]]>
Fri, 03 Nov 2017 14:25:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186702/piedmont-lithium-completes-16m-placement-186702.html
<![CDATA[News - Piedmont Lithium drill results confirm resource potential ]]> https://www.proactiveinvestors.com.au/companies/news/186619/piedmont-lithium-drill-results-confirm-resource-potential-186619.html Piedmont Lithium (ASX:PLL) has received assay results from a further 25 holes in its Phase 2 diamond drilling program at its Piedmont Lithium Project located in North Carolina, U.S.

Results continue to confirm high-grade lithium mineralisation along 4 kilometres of strike within the world-class Carolina Tin-Spodumene Belt.

The 93-hole Phase 2 diamond drilling program, which totalled 12,262 meters is now complete and latest assays include 8.86 metres at 1.72% lithium oxide.

Piedmont is aiming to define an Exploration Target in December 2017 with the Phase 2 results, which is to be followed by a maiden resource in early-2018.

The company anticipates receiving assay results for the remaining 42 holes over the coming weeks.

Keith D. Phillips, CEO, commented

“These additional Phase 2 results continue to showcase the high-grade mineralisation throughout our growing land package.

“We are increasingly confident in our ability to define a large lithium deposit in this historic belt, and we look forward to releasing the remaining results of our Phase 2 drilling campaign over the coming weeks.”

Drill result details

Assay results for a further 25 diamond drill holes in the 93-hole program have been received.

Highlights include:

- 25.22 metres of cumulative thickness of mineralisation across 6 pegmatites including 5.40 metres at 1.46% lithium oxide, 2.65 metres at 1.24% lithium oxide and 2.00 metres at 1.43% lithium oxide;
- 21.92 metres of cumulative thickness of mineralisation across 5 pegmatites including 8.86 metres at 1.72% lithium oxide, and 8.04 metres at 1.02% lithium oxide;
- 18.66 metres of cumulative thickness of mineralisation across 6 pegmatites including 6.27 metres at 1.39% lithium oxide, 4.21 metres at 1.83% lithium oxide, 2.26 metres at 1.52% lithium oxide and 1.68 metres at 1.83% lithium oxide;
- 18.64 metres of cumulative thickness of mineralisation across 6 pegmatites including 6.66 metres at 1.59% lithium oxide and 2.68 metres at 1.58% lithium oxide;
- 14.08 metres of cumulative thickness of mineralisation across 5 pegmatites including 5.03 metres at 1.98% lithium oxide and 2.04 metres at 1.52% lithium oxide; and
- 12.97 metres of cumulative thickness of mineralisation across 2 pegmatites including 10.36 metres at 1.53% lithium oxide.

These results build on the first batch of assays received in late September 2017.

READ NOW: Piedmont builds scale at the world’s best-located lithium project Phase 2 drilling program

The Phase 2 drilling program has identified eight significant spodumene-bearing pegmatites dikes or dike swarms totalling 4 kilometres in strike length.

These eight pegmatite trends consist of one to multiple spodumene-bearing dikes with drill thickness ranging up to 16 meters.

Piedmont is very encouraged by the visual observations of mineralisation in the remaining 42 holes and expects to receive additional assays over the coming weeks.

Recent $16 million capital raising

Last month, Piedmont outlined that it had successfully completed a bookbuild for a placement of 100 million shares priced at A$0.16 to raise A$16 million.

Shares will be placed to institutional and sophisticated investors located in Australia and the United States.

Proceeds from the placement will be used to expedite development of the Piedmont project.

READ NOW: Piedmont Lithium bags $16M to accelerate lithium project in the U.S. ]]>
Thu, 02 Nov 2017 14:44:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186619/piedmont-lithium-drill-results-confirm-resource-potential-186619.html
<![CDATA[News - Piedmont Lithium bags $16M to accelerate lithium project in the U.S. ]]> https://www.proactiveinvestors.com.au/companies/news/186390/piedmont-lithium-bags-16m-to-accelerate-lithium-project-in-the-us-186390.html Piedmont Lithium Ltd (ASX:PLL) has successfully completed a bookbuild for a placement of shares at $0.16 each to institutional and sophisticated investors to raise $16 million.

The proceeds from the placement will be used to expedite the development of the company’s Piedmont Lithium Project located in the world-class Carolina Tin-Spodumene Belt (TSB) in the U.S.

The company is also planning to secure additional land within the TSB, complete additional drilling and technical studies for the project.

Keith Phillips, president and chief executive officer, commented: “We are extremely pleased with the overwhelming demand and strong institutional support received for the placement which significantly enhances the nature of our register and reflects the quality of our Piedmont Lithium Project.

“The funds will allow us to accelerate our project development plans for what we believe to be the world’s most strategically located lithium project.”

Project background

The Piedmont lithium project is located in an infrastructure rich region of North Carolina.

The Carolina Tin-Spodumene Belt was the world’s primary source for lithium from the 1950's to the 1980's, and hosts the country's only two historic spodumene mines.

Piedmont's land holdings are less than 25 kilometres from the only two large lithium processing facilities in the U.S. - making it one of the world’s best-located lithium projects.

Recent assays from the company’s Phase 2 drill program at the project has confirmed eight mineralised trends totalling circa four kilometres of strike length.

The highlights include 21.3 metres of mineralisation across four pegmatites, with high grade zones of 6.7 metres at 1.32% lithium, 4.5 metres at 1.24% lithium and 1.5 metres at 1.52% lithium.

Next steps

Piedmont has already established relationships with leading technical and marketing consultants in the lithium sector.

The company is planning to accelerate feasibility studies with regards to metallurgical, mine development and off-take plans.

Piedmont is aiming for an exploration target in December 2017 and a maiden resource in early-2018.

Earlier this month, Piedmont became the first pure lithium play to join the NASDAQ.

READ NOW: Piedmont Lithium begins trading on Nasdaq

This provides a larger pool of investors who will now be able to gain exposure to the Piedmont lithium project.

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Mon, 30 Oct 2017 15:10:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186390/piedmont-lithium-bags-16m-to-accelerate-lithium-project-in-the-us-186390.html
<![CDATA[News - Piedmont Lithium attracts funding for world-class lithium ]]> https://www.proactiveinvestors.com.au/companies/news/186219/piedmont-lithium-attracts-funding-for-world-class-lithium-186219.html Piedmont Lithium Ltd (ASX:PLL,OTC – Nasdaq International: PLLLY) was recently the first pure lithium play to join the NASDAQ.

This provides a larger pool of investors that will now be able to gain exposure to the Piedmont lithium project, which is located in an infrastructure-rich region of North Carolina.

Piedmont has been granted a trading halt by the ASX, pending details regarding a capital raising being managed by Foster Stockbroking.

The halt will remain in place until the opening of trade on Monday 30th October 2017, or earlier if an announcement is made to the market.

READ NOW: Piedmont builds scale at the world’s best-located lithium project ]]>
Thu, 26 Oct 2017 09:08:00 +1100 https://www.proactiveinvestors.com.au/companies/news/186219/piedmont-lithium-attracts-funding-for-world-class-lithium-186219.html
<![CDATA[News - Piedmont Lithium begins trading on Nasdaq ]]> https://www.proactiveinvestors.com.au/companies/news/185469/piedmont-lithium-begins-trading-on-nasdaq-185469.html Piedmont Lithium (ASX:PLL) has been admitted to Nasdaq International Designation and its American Depositary Receipts (ADRs) have commenced trading in the U.S.

A larger pool of investors will now be able to gain exposure to the Piedmont lithium project, which is located in an infrastructure-rich region of North Carolina.

The project is located less than 10 miles from the only two large lithium processing facilities in the U.S.

The company will now begin an extensive marketing campaign to new U.S. investors.

It will also continue to build relationships with U.S. banks and brokers that have experience and knowledge of the lithium and clean-technology sectors.

Keith Phillips, CEO, commented

“Launching an ADR program in the U.S signals a key milestone as we drive development forward at our Piedmont Lithium Project in North Carolina and boost visibility among U.S investors.

“We are excited to begin an extensive U.S marketing campaign with a Nasdaq International Designation that allows investors to trade in U.S dollars, during U.S trading hours.”

Phase 2 drilling campaign

Phase 2 drilling originally completed last month in September but was extended for a further 3,000 metres.

Current drilling is only scratching the surface of the Piedmont project as it is typically testing the pegmatites at less than 100 metres vertical depth.

Final assays are expected to be released over the remainder of the current December quarter.

Drill results will be used to form both an Exploration Target and a maiden JORC resource estimate.

READ NOW: Assays from the first 26 holes of the Phase 2 drilling ]]>
Thu, 12 Oct 2017 13:41:00 +1100 https://www.proactiveinvestors.com.au/companies/news/185469/piedmont-lithium-begins-trading-on-nasdaq-185469.html
<![CDATA[News - Piedmont Lithium rated a Speculative Buy from Sydney broker ]]> https://www.proactiveinvestors.com.au/companies/news/184878/piedmont-lithium-rated-a-speculative-buy-from-sydney-broker-184878.html Piedmont Lithium Ltd (ASX:PLL) is a company attracting broker attention due to its strategically located U.S. lithium asset.

Sydney-broker Foster has applied a Speculative Buy to the company. The following is an extract from the report.

Event:

We provide an overview of Piedmont Lithium Ltd (PLL).

Investment Highlights:

PLL has secured 715 acres in the historic mining area of the tin spodumene belt (TSB) in North Carolina as part of its Piedmont lithium project.

The project is along trend from the historic Hallman-Beam and Kings Mountain lithium spodumene mines which produced from the 1950s to 1990s.

Nearby are Albemarle’s and FMC’s operating downstream lithium process plants.

Results from both historic and PLL’s own drilling in the project have mostly intersected significant lithium mineralisation across a number of pegmatite layers.

Results confirm four major corridors of lithium mineralisation across the project with a cumulative strike length of 4km.

A number of moderate to steeply dipping pegmatite layers are evident, and cumulative thicknesses range from 5m to 25m.

Mineralisation is open in all directions with drilling to date being down to 100m vertical depths.

PLL is continuing its drill program and is aiming to define an Exploration Target by end CY2017 and a maiden JORC Resource in early 2018.

Attractive infrastructure to contribute low costs.

The project lies only 40km west of the major city of Charlotte, home to Albemarle Corporation and FMC Lithium division headquarters.

Major transmission lines and natural gas pipeline run immediately south of the project, while the project is traversed by paved roads.

There is nearby access to highways, rail, and Charlotte airport.

We expect both relatively low power and labour costs from the local workforce.

Business friendly state.

Both the highly regarded Fraser Institute and Forbes rank North Carolina 2nd among all US states for business.

State tax is only 3% and recently legislated to be 2.5% in 2019.

The US market is short supply of local lithium, with net imports (mostly from Chile and Argentina) greater than 50% of consumption.

There is appetite for local supply, as demonstrated by FMC’s offtake agreement to secure lithium from Nemaska’s Whabouchi spodumene project in Quebec.

PLL is well placed to exploit this strategic need should it define a minable and attractive resource.

Board and management combine extensive experience in successfully founding, developing and commercialising junior resource companies plus relevant experience in the TSB including mining and downstream processing.

Key Board members include Taso Arima, Ian Middlemas, and Keith Phillips.

Earnings and Valuation:

We currently do not forecast earnings or derive a valuation.

However we have compared PLL’s valuation to those of North American and ASX listed peers and believe that it has strong potential to appreciate as the project is derisked.

Recommendation:

We recommend PLL as a Speculative Buy given we expect the attractive location, strong Board, and drill results bode well for the project.

While we have no price-target, we expect key catalysts to re-rate the share price include further drill results; exploration target; defining a maiden JORC Resource; feasability studies; financing; and development.

READ NOW: Piedmont builds scale at the world’s best-located lithium project ]]>
Mon, 02 Oct 2017 11:18:00 +1100 https://www.proactiveinvestors.com.au/companies/news/184878/piedmont-lithium-rated-a-speculative-buy-from-sydney-broker-184878.html
<![CDATA[News - Piedmont builds scale at the world’s best-located lithium project ]]> https://www.proactiveinvestors.com.au/companies/news/184638/piedmont-builds-scale-at-the-worlds-best-located-lithium-project-184638.html Piedmont Lithium Ltd (ASX:PLL) is focused on the Piedmont lithium project, located in an infrastructure rich region of North Carolina, U.S.

Piedmont's land holdings are less than 25 kilometres from the only two large lithium processing facilities in the country - making it the world’s best-located lithium project.

The region was the world’s primary source for lithium from the 1950's to the 1980's, and hosts the country's only two historic spodumene mines.

Metallurgy is proven, and as an example, Sony commercialised the LI-ion battery using local ore.

Latest assays build scale

Assays from the first 26 holes of the Phase 2 drill program together with visual analysis of the remaining Phase 2 drilling has confirmed eight mineralised trends totalling circa four kilometres of strike length.

The mineralised trends consist of one or more spodumene bearing pegmatite dykes ranging up to 16 meters in drill thickness.

Highlights include:

- 21.3 metres of cumulative thickness of mineralisation across four pegmatites, with high grade zones of: 6.7 metres at 1.32% lithium, 4.5 metres at 1.24% lithium and 1.5 metres at 1.52% lithium; and

- 20.6 metres of cumulative thickness of mineralisation across three pegmatites, with high grade zones of 11.3 metres at 1.43% lithium and 2.8 metres at 1.35% lithium.

Keith Phillips, president and chief executive officer, commented: "These initial Phase 2 results are highly encouraging.

"We continue to be surprised by the sheer extent of the mineralisation and are excited to begin testing the deposit at depth.

"The project is clearly larger than we had first envisioned and it is important that we do the work to properly evaluate the scale of the resource.

"Our Phase 1 drill program identified four potential corridors of mineralisation and our Phase 2 program has in fact defined abundant high-grade mineralisation in each corridor.

"We look forward to releasing the remaining results of our Phase 2 drilling campaign over the coming weeks."

Following the positive results, Piedmont has decided to extend Phase 2 drilling by an additional 3,000 metres.

Key upcoming catalysts

Piedmont have already established relationships with the leading technical and marketing consultants in the lithium sector.

The company now intends to accelerate feasibility studies with regards to metallurgical, mine development and off-take plans.

- Exploration target in December 2017; and
- Maiden resource in early-2018.

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Wed, 27 Sep 2017 13:34:00 +1000 https://www.proactiveinvestors.com.au/companies/news/184638/piedmont-builds-scale-at-the-worlds-best-located-lithium-project-184638.html
<![CDATA[News - Piedmont Lithium has assays pending, located near two lithium processing facilities ]]> https://www.proactiveinvestors.com.au/companies/news/183956/piedmont-lithium-has-assays-pending-located-near-two-lithium-processing-facilities-183956.html Piedmont Lithium Ltd (ASX:PLL) continues to advance its company strategy of consolidating land holdings in an infrastructure rich region of North Carolina, U.S.

Piedmont has increased its land position to 715 acres, as it maintains a position as a new first-mover within the historic tin-spodumene belt.

The importance of the location is that it has a potential pathway to market.

Piedmont's land holdings are less than 25 kilometres from the only two large lithium processing facilities in the U.S.

The region was the world’s primary source for lithium from the 1950's to the 1980's, and hosts the country's only two historic spodumene mines.

Metallurgy is proven, and as an example, Sony commercialised the LI-ion battery using local ore.

The project can also source low-cost power and skilled local labor with no need to transport workers or house them in a camp.

There are also nearby industrial consumers for by-products, and supporting the economics there are no state mining royalties.

Consolidation of land holdings

Piedmont is working towards consolidating the region between the newly optioned and historical landholdings.

All additional landholdings show prospective sources of additional pegmatites similar to what is found within the remainder of the project.

Keith D. Phillips, president and chief executive officer, commented:

"These latest agreements increase our land holdings in the prolific Carolina Tin-Spodumene Belt by over 26%, and we are in conversations with many other landowners to further consolidate our position in the region.

"These strategic land acquisitions are all on-trend and enable us to grow mineral resources over time, ultimately leading to greater throughput and a longer mine life."

Assays pending

Exploration news flow will increase in the near-term, as the Phase 2 drilling campaign is nearing completion.

Assays will then follow in coming weeks.

Piedmont will then conduct soil sampling on the newly optioned landholdings to identify drilling targets.

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Thu, 14 Sep 2017 15:12:00 +1000 https://www.proactiveinvestors.com.au/companies/news/183956/piedmont-lithium-has-assays-pending-located-near-two-lithium-processing-facilities-183956.html